Obligation to Cash Collateralize. At any time that there shall exist a Defaulting Lender, within one Business Day following the written request of the Administrative Agent or any L/C Issuer (with a copy to the Administrative Agent), the Borrower shall Cash Collateralize the L/C Issuers’ Fronting Exposure with respect to such Defaulting Lender (determined after giving effect to [Section 2.16(a)(iv)] and any Cash Collateral provided by such Defaulting Lender) in an amount not less than the Minimum Collateral Amount.
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